The market has stabilized, the first signs of a downtrend appeared
October 4, 2019 6:42:00 AM
Forecast Details
PairEURJPY
Direction
Sell
StatusClosed (118.8)
-104 p
118.80
Stop Loss
117.75
Entry
+134 p
116.40
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- For a while now, the Current Ratios indicator provides an opportunity for Short trade. We are using this signal as a basis for today’s trading forecast.
- There is an increase in Sell Orders when the price attempts to move down. We expect an upward movement to eliminate the accumulated sellers. We recommend to set Sell Limit at 117.75.
- This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.